Whittier Trust Co. Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

Whittier Trust Co. lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 73.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 41,514 shares of the pharmacy operator’s stock after selling 112,304 shares during the period. Whittier Trust Co.’s holdings in CVS Health were worth $2,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in CVS Health by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock worth $9,293,299,000 after purchasing an additional 533,659 shares during the period. Capital World Investors boosted its position in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. Capital International Investors grew its stake in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after acquiring an additional 4,226,225 shares in the last quarter. Norges Bank purchased a new stake in CVS Health in the 4th quarter worth approximately $1,092,040,000. Finally, Capital Research Global Investors boosted its holdings in CVS Health by 1.4% in the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of CVS stock opened at $56.96 on Friday. The company has a market capitalization of $71.51 billion, a P/E ratio of 10.01, a PEG ratio of 0.57 and a beta of 0.52. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The stock has a 50 day moving average price of $58.67 and a two-hundred day moving average price of $64.71.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 EPS. Analysts expect that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.67%. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent analyst reports. Evercore ISI lowered their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Wells Fargo & Company upped their price objective on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Argus dropped their target price on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Bank of America lowered their price objective on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $73.24.

CVS Health Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.